Financial Performance - For the six months ended June 30, 2022, revenue increased by approximately 27.5% or RMB 88.1 million to approximately RMB 409.1 million compared to the same period in 2021[3] - Gross profit for the same period increased by approximately 25.1% or RMB 8.5 million to approximately RMB 42.2 million compared to the same period in 2021[3] - The profit attributable to owners of the company was approximately RMB 0.5 million for the six months ended June 30, 2022, compared to a loss of approximately RMB 6.5 million for the same period in 2021[3] - The company's revenue for the six months ended June 30, 2022, was approximately RMB 409.1 million, an increase of about 27.5% compared to the same period in 2021[22] - The gross profit increased from approximately RMB 33.7 million to about RMB 42.2 million, representing a growth of approximately 25.1%[23] - Operating profit turned positive at RMB 1,582 thousand, compared to an operating loss of RMB 5,626 thousand in the previous year[64] - The net profit for the period was RMB 702 thousand, a significant recovery from a net loss of RMB 7,203 thousand in the prior year[64] - The company reported a profit attributable to owners of RMB 512,000 for the six months ended June 30, 2022, compared to a loss of RMB 6,499,000 in the same period of 2021[90] Cost and Expenses - The gross profit margin decreased by approximately 0.2% to about 10.3% for the six months ended June 30, 2022, compared to approximately 10.5% for the same period in 2021[3] - The distribution costs rose from approximately RMB 12.2 million to about RMB 13.8 million, an increase of approximately 12.5%[24] - Administrative expenses increased from approximately RMB 24.4 million to about RMB 28.1 million, reflecting a rise of approximately 15.1%[26] - The total administrative expenses for the six months ended June 30, 2022, were RMB 28,065,000, up from RMB 24,388,000 in the same period of 2021, marking an increase of 11.0%[81] - The company’s employee costs for the six months ended June 30, 2022, totaled RMB 40,799,000, an increase from RMB 28,319,000 in the previous year, representing a growth of 44.3%[85] Cash Flow and Liquidity - As of June 30, 2022, the group's cash and cash equivalents amounted to approximately RMB 799 million, an increase from RMB 658 million as of December 31, 2021[9] - Cash and cash equivalents increased to RMB 79,946 thousand from RMB 65,844 thousand, showing a growth of 21.5%[65] - Operating cash flow for the six months ended June 30, 2022, was RMB 70,376,000, a significant increase from RMB 24,033,000 in the same period of 2021, representing a growth of 193.5%[69] - Net cash generated from operating activities reached RMB 69,599,000, compared to RMB 22,025,000 in the previous year, indicating a year-over-year increase of 215.5%[69] - Cash used in investing activities was RMB 4,594,000, a decrease from RMB 13,537,000 in the prior year, reflecting a reduction of 66.0%[69] - Cash flow from financing activities showed a net outflow of RMB 51,504,000, compared to a net outflow of RMB 21,777,000 in the previous year, indicating a 136.5% increase in cash outflow[69] Assets and Liabilities - Total assets increased to RMB 853,585 thousand as of June 30, 2022, compared to RMB 755,983 thousand at the end of 2021, representing a growth of 12.9%[66] - The company's total liabilities rose to RMB 645,900 thousand, up from RMB 549,643 thousand, indicating an increase of 17.5%[66] - The company had short-term bank borrowings of RMB 50,000,000 as of June 30, 2022, down from RMB 101,080,000 at the end of 2021, representing a decrease of about 50.6%[102] - The net debt as of June 30, 2022, was RMB (29.946) million, compared to RMB 35.236 million as of December 31, 2021[35] Market and Industry Insights - The overall profit generated by the tobacco industry increased by 7.9% to RMB 82.84 billion during the review period[8] - The economic growth rate in China for the first half of 2022 was 2.5%, with significant challenges due to COVID-19 and geopolitical risks[8] - The tobacco industry in China saw a 9% year-on-year increase in combined operating revenue, totaling RMB 565.11 billion from January to April 2022[13] - The Chinese e-cigarette market is projected to double by the end of 2023, with the company planning to accelerate its expansion in this segment[47] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it during the reporting period[60] - The company has confirmed that all directors have complied with the standards of the securities trading code during the reporting period[61] - The company has not purchased, sold, or redeemed any of its listed securities during the six-month period ending June 30, 2022[59] Shareholder Information - As of June 30, 2022, the company had a total of 300,000,000 issued shares[51] - Mr. Yang holds 209,362,000 shares, representing approximately 69.79% of the company's total shares[52] - Mr. Fung holds 15,638,000 shares, representing approximately 5.21% of the company's total shares[52] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022[44]
嘉耀控股(01626) - 2022 - 中期财报